Fact Check: Susan Page Falsely Claims Economic Recovery Is Not Rapid and Robust

SALT LAKE CITY, UTAH - OCTOBER 07: Debate moderator Washington Bureau Chief for USA Today Susan Page speaks at the vice presidential debate between Democratic vice presidential nominee Sen. Kamala Harris (D-CA) and U.S. Vice President Mike Pence at the University of Utah on October 7, 2020 in Salt Lake …
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Claim: “Vice President Pence, your administration has been predicting a rapid and robust recovery, but the latest economic reports suggest that is not happening,” moderator Susan Page said during the vice presidential debate Wednesday.

Verdict: False.

In fact, the economic recovery has been far more robust and rapid than was predicted. The Federal Reserve said in minutes released Wednesday of its September meeting that business investment, job creation, declining unemployment, manufacturing, and the housing market had all recovered faster than expected.

In a note to clients, the investment bank Goldman Sachs said that “the damage has so far been much less severe than initially feared.. Scarring effects on the business sector remain surprisingly limited.. In addition, labor demand has rebounded much more quickly than last cycle, reducing the risk of widespread long-term unemployment.”

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